Question 14 Chapter 6 -Unimax Publication Class 12 Part 2 – 2021

Question No 14 Chapter No -6 Unimax Class - 12 Part - II
Question No 14 Chapter No -6 Unimax Class - 12 Part - II

Question 14 Chapter 6 – Unimax Publication Class 12 Part 2 – 2021

Prepare a comparative Income Statement from the following information:

Particulars
2021 2022
Gross profit 1,20,200 1,35,800
Sales return  5,200 3,800
Cost of goods sold 80,000 84,000
Operating expenses 12,000 9,000
Income tax 50% 50%

The solution of Question 14 Chapter 6 – Unimax Publication Class 12 Part 2-2021 : –

Comparative Income Statement

Particulars

note

no

2021

A

2022

B

Absolute change

B-A =C

Percentage change

C/A 

Revenue form operations   2,00,200 2,19,800 19,600 9.79
Add other income  
Total Revenue   2,00,200 2,19,800 19,600 9.79
Less expenses:          
Cost of goods sold   80,000 84,000 4,000 5.0
Operating expenses   12,000 9,000 (3,000) (25.0)
Total expenses   92,000 93,000 1,000 1.09
Net Profit before tax   1,08,2000 1,26,800 18,600 17.19
Less income tax   54,100 63,400 9,300 17.19
Net Profit after tax   54,100 63,400 9,300 17.19

Working note:

Gross profit = Net sale – Cost of goods sold
Net sales = Gross profit + Cost of goods sold
Net sales (2021) = 1,20,200 +80,000 = 2,00,200
Net sales (2022) = 1,35,800 + 84,000 = 2,19,800

Note: (Net sale = sales – sales return) 

Thanks, Please Like and share with your friends  

Comment if you have any Doubts.

Comparative Statements – Balance Sheet & Profit and Loss

Unimax Publication – Accountancy PSEB Class 12 – Volume I – Solution

Unimax Publication – Accountancy PSEB (Class 12) – Part – II – Solution

Check out T.S. Grewal +2 Book 2023@ Official Website of Sultan Chand Publication

 

Advertisement-X

 

 

 

 

 

 

 

Advertisement

error: Content is protected !!